Updates, advisories and surprises

(3:35 PM ET) BOSTON (MarketWatch) -- Shares of Vertex Pharmaceuticals
VRTX, -0.43%
advanced 8% to stand at $52.03 Friday, the day after the biotech firm reported a narrowed quarterly-loss due largely to strong sales of its newly-approved hepatitis C therapy Incivek. Bernstein Research on Friday raised its price target for the stock to $82.

Vertex advances 8% on earnings, upgrade

(3:35 PM ET) BOSTON (MarketWatch) -- Shares of Vertex Pharmaceuticals
VRTX, -0.43%
advanced 8% to stand at $52.03 Friday, the day after the biotech firm reported a narrowed quarterly-loss due largely to strong sales of its newly-approved hepatitis C therapy Incivek. Bernstein Research on Friday raised its price target for the stock to $82.

Jazz rallies 16% on rosy financial forecast

(12:26 PM ET) BOSTON (MarketWatch) -- Shares of Jazz Pharmaceuticals
JAZZ, -0.89%
rallied 16% to $40.82 on Friday, a 52-week high for the stock. Late Thursday, Jazz released a strong quarterly-earnings report and raised its 2011 financial outlook. Jazz said it now sees revenue coming in between $247 million and $260 million, with earnings of $2.68 to $2.79 a share, and adjusted earnings of $3.15 to $3.25 a share. Analysts had estimated earnings of $2.68, on sales of $255 million, according to FactSet.

Community, LifePoint shares surge on earnings

(12:16 PM ET) LOS ANGELES (MarketWatch) -- The shares of Community Health Systems Inc.
CYH, +0.96%
and LifePoint Hospitals
LPNT, +0.80%
surged Friday after the two hospital operators offered favorable earnings reports. Community gained more than 7% while LifePoint was up 5% after both said adjusted earnings came in 2 cents ahead of forecasts from analysts polled by FactSet Research. LifePoint also lifted its full-year forecast on earnings to a range of $2.95 to $3.15 a share, up from the previous estimate of $2.80 to $3.10 a share. The FactSet estimate called for 2011 earnings of $3.10 a share from LifePoint.

Earnings reports have diverse effects on insurers

(11:06 AM ET) LOS ANGELES (MarketWatch) -- Two health-care companies acted as bookends for the S&P 500 in morning trades Friday as earnings reports lifted the shares of Cerner Corp.
CERN, +0.69%
by more than 8% and cast down the shares of Coventry Health Care
CV.H, -5.56%
by nearly the same amount. Cerner said its second-quarter earnings came in a penny ahead of estimates, but the consultant lifted its full-year outlook to a range of $1.80 to $1.83 a share, up from the $1.73 forecast of analysts polled by FactSet Research. Coventry, meanwhile, beat quarterly estimates by 7 cents a share, but said full-year adjusted earnings will end up in a range of $2.80 to $2.95 a share, below the $3.02 projection from FactSet.

Zoll zooms up 23% on earnings

(10:48 AM ET) BOSTON (MarketWatch) -- Shares of medical-device maker Zoll Medical Corp.
ZOLL
zoomed up 23% to $67.99, the day after it reported better-than-expected fiscal third-quarter earnings. Zoll also announced that the U.K.'s West Midlands Ambulance Service has purchased an addition $900,00 worth of Zoll heart defibrillators.

Georgia Medicaid move hits insurer shares hard

(10:44 AM ET) LOS ANGELES (MarketWatch) -- A warning from Amerigroup Corp.
AGP, +0.00%
about a move by the state of Georgia to double check Medicaid records took a massive bite out of several insurers' shares Friday, with Amerigroup tumbling by more than 21% in morning trades. Amerigroup said Georgia undertook a sweeping review of its Medicaid records and discovered it had made a number of duplicate payments. The state now is seeking reimbursement on those payments from insurers, which resulted in a 16-cent per-share charge to Amerigroup. Other Medicaid-dependent insurers were hit as well, including WellCare Health Plans Inc.
WCG, +0.77%
off 14%, and Centene Corp.
CNC, +2.20%
which was down 8%.

Monster stock falls further on job market concerns

(10:26 AM ET) NEW YORK (MarketWatch) -- Monster Worldwide Inc.
MWW
shares fell 5% to $11.32 a share on Friday, extending their fall from the previous day, when the company reported second-quarter earnings. The New York City-based online job board had reversed year-ago losses, but its stock took a tumble on concerns of growing competition, the soft job market, and its sequential decline in quarterly margins and revenues for its North American careers segment. Monster stock has fallen 52% this year. In a note on Friday, Oppenheimer equity research analysts said the stock weakness was a "buying opportunity," but lowered price targets from $27 to $20 a share, in consideration of the slow recovery, increased economic uncertainty and concerns about Monster's competitors.

Ista plunges 28% on study failure, downgrades

(10:22 AM ET) BOSTON (MarketWatch) -- Shares of Ista Pharmaceuticals
ISTA, -2.13%
plunged 28% to $5.16 early Friday, the day after it released a disappointing quarterly-earnings report and poor preliminary results from a Phase III study for its ophthalmology drug Remura. As a result, Stifel Nicolaus on Friday lowered its rating of the stock to hold. RBC Capital, meanwhile, maintained its outperform rating, but lowered its price target to $12 from $15.

Amgen exceeds Street estimates, shares rise 2.5%

(8:43 AM ET) NEW YORK (MarketWatch) -- Amgen Inc.
AMGN, -0.37%
on Friday reported second-quarter earnings of $1.17 billion, or $1.25 a share, compared to $1.2 billion, and also $1.25 a share, in the year-ago period. Total revenue was $4 billion, 4.1% higher than the same period last year. On an adjusted basis, earnings were $1.37 a share. Analysts surveyed by FactSet Research expected earnings of $1.29 a share, on sales of $3.8 million. Amgen now sees its revenue for 2011 at the upper end of its guidance range of $15.1 billion to $15.5 billion. The Thousand Oaks, Calif. biotechnology medicines company also expects 2011 adjusted earnings a share estimates to be at the upper end of its guidance range of $5 to $5.20.

Merck meets estimates, earnings 95 cents a share

(7:57 AM ET) NEW YORK (MarketWatch) -- Merck & Co. Inc.
MRK, -0.64%
on Friday reported second-quarter earnings of $2.02 billion, or 65 cents a share, compared 752 million, or 24 cents a share in the year-ago period. Revenue was $12.15 billion, 7% higher than the same period a year ago. Adjusted earnings were $3 billion, or 95 cents a share, up from 86 cents last year. Analysts surveyed by FactSet Research expected earnings of 95 cents a share, on revenue of $11.82 billion. The White House, N.J.-based pharmaceutical company said that it remains on track to save $3.5 billion in annual cost synergies by the end of 2012 and expects to reduce its workforce, as measured of the end of 2009, by additional 12% to 13% by the end of 2015.

Newell Rubbermaid cuts outlook

(6:55 AM ET) LONDON (MarketWatch) -- Newell Rubbermaid Inc.
NWL, +0.68%
on Friday cut its outlook for the year, citing difficult conditions in the U.S. and Europe, as it reported a 13% rise in second-quarter profit. The firm said profit rose to $146.7 million, or 49 cents a share, from $130.4 million, or 41 cents a share, a year earlier, helped by the reversal of tax contingencies. Sales for the quarter rose 5.1% to $1.57 billion, while adjusted earnings per share slipped to 46 cents from 51 cents. Analysts polled by FactSet had been expecting earnings of 42 cents a share on sales of $1.55 billion. As well as the tough economic conditions in Europe and the U.S., the group said it is also facing "ongoing challenges in the baby and parenting category." It cut its forecast for adjusted earnings for the year to a range of $1.55 to $1.62 a share, having previously forecast earnings of $160 to $1.67 a share. Analysts had already cut their forecasts and, on average, were expecting earnings for the year of $1.58 a share.

Aon Corp. second-quarter profit up 69%

(6:47 AM ET) FRANKFURT (MarketWatch) -- Chicago-based insurance broker and services firm Aon Corp.
AON, +0.73%
on Friday said second-quarter net profit rose to $258 million, or 75 cents a share, from $153 million, or 54 cents a share, in the same period last year. Net profit attributable to shareholders from continuing operations, excluding special items, increased 2% to 83 cents a share, the company said. Analysts surveyed by FactSet Research had produced a consensus forecast of 82 cents a share. Total revenue rose 48% to $2.8 billion. "While macro conditions remain challenging globally, we are firmly on track to deliver growth in 2011," said Chief Executive Greg Case.

Weyerhauser second-quarter profit falls 29%

(6:31 AM ET) FRANKFURT (MarketWatch) -- Forest-products firm Weyerhauser Co.
WY, -0.27%
on Friday reported second quarter net profit of $10 million, or 2 cents a share, down from $14 million, or 7 cents a share, in the same period last year. Excluding special items, the Federal Way, Wash.-based company saw earnings of 6 cents a share. Analysts surveyed by FactSet Research had produced a consensus forecast of 10 cents a share. Weyerhauser said total net sales and revenues slipped to $1.61 billion from $1.64 billion. "We are confident that our ongoing efforts to sharpen our focus and reduce costs are positioning us to achieve our goal of generating superior sustainable returns for our shareholders," said Chief Executive Dan Fulton. "The recently announced agreements to sell our hardwoods and Westwood Shipping Lines operations demonstrate the focus we are placing on our strategic direction."

Newmont profit broadly steady; sales rise 11%

(6:22 AM ET) LONDON (MarketWatch) -- Newmont Mining Corp.
NEM, -1.71%
said Friday that its second-quarter profit attributable to shareholders edged up 1.3% to $387 million from $382 million, while earnings per share were flat at 77 cents. Total sales rose 11% to $2.38 billion and adjusted net income in the quarter was 90 cents a share. Analysts polled by FactSet Research had been expecting earnings of $1.01 a share on sales of $2.5 billion. The group said it is maintaining its 2011 outlook for attributable gold production of 5.1 million to 5.3 million.

BSkyB plans $1.2 bln buy back as profit slips 7.7%

(2:44 AM ET) LONDON (MarketWatch) -- U.K. satellite broadcaster British Sky Broadcasting PLC(UK:BSY)said Friday that it will buy back 750 million pounds ($1.23 billion) of shares as it reported a 7.7% drop in fiscal-year net profit to 810 million pounds from 878 million pounds. The group said revenue for the year rose 16% to 6.6 billion pounds as the total number of customers reached 10.3 million, an increase of 426,000 on the previous year. Stripping out gains from a litigation settlement and the sale of shares in ITV PLC(UK:ITV)in the previous year, operating profit rose 23% to 1.07 billion pounds, the group said. BSkyB lifted its dividend payout by 20% to 23.28 pence a share and said it will return 750 million pounds to investors through a buyback. News Corp.
NWS, -1.47%NWSA, -0.68%
which owns 39% of the company, will participate in the buyback to ensure its stake doesn't rise further, BSkyB said. News Corp. is also the parent of MarketWatch, the publisher of this report.

EADS profit down on strong euro

(2:29 AM ET) LONDON (MarketWatch) -- Aerospace firm EADS NV(FR:EAD)said Friday that its first-half net profit fell 41% to 109 million euros ($156 million), driven by accounting revaluations on foreign exchange as the euro strengthened. EADS, the parent of Airbus, said revenue for the period rose 8% to 21.94 billion pounds and earnings before interest and taxes grew 39% to 563 million euros. "Our results for the first half of 2011 mirror the strong demand in the commercial aviation sector. In terms of orders, Paris Air Show was record breaking for us, particularly thanks to the A320neo," said CEO Louis Gallois. The group said it still expects adjusted Ebit to remain stable in 2011 at around 1.3 billion euros, followed by a "significant improvement" in 2012, thanks to higher volumes and better pricing.

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